Miranda Kerr To Model $2.5 Million Victoria's Secret Bra

Victoria's Secret model and new mom Miranda Kerr has just been announced as this year's model for the Fantasy Treasure Bra, a diamond-studded piece of underwear worth $2.5 million.

This year's bra will debut — on Kerr — at November's annual Victoria's Secret Fashion Show and in the lingerie company's Christmas Dreams and Fantasies catalogue. "It's such an honor to wear the bra," Kerr told People. "And it's such a piece of artwork! It's absolutely stunning — it kind of feels a little mermaid-like."

Though the famous Fantasy Bra has a new design every year, it has been a Victoria's Secret icon since Claudia Schiffer donned the first one back in 1996, the only year the bra actually sold (the price tag then: a mere $1 million). This year the bra, which was partly created by Long Island's London Jewelers, has an aqua tint and is handset with almost 3400 various jewels at 142 carats. It also features an ornamented tassel dangling from the center clasp, set with two yellow diamonds of 14 carats, and two white diamonds of 8 carats each.

You can see Kerr and the bra in all their glory on the Victoria's Secret Fashion show, rumored to air November 29 on CBS. Kanye West and Maroon 5 will be among the night's performers.